So, where should you begin?
There are plenty of real estate markets to choose from; even within a city like Los Angeles, there is a wide range of niche markets with varying degrees of performance.
Christina has been in the Los Angeles real estate market for over four decades. Throughout our storied tenure in the city, we’ve seen everything the market offers.
That’s why we’re so excited about Pacific Palisades real estate’s high potential for your financial portfolio.
Choose Pacific Palisades Real Estate Assets
The Pacific Palisades offers investors the kinds of hyper-prime real estate that make for a healthy portfolio.
As inflation grows increasingly dire, now more than ever, you need to protect your finances with real estate assets like the ones found in the Pacific Palisades.
Where Are the Pacific Palisades?
The Pacific Palisades is located in one of the most lucrative areas in all of Los Angeles: the Westside region. Beginning west of La Cienega Blvd, this alluring region extends to the Pacific coast.
Some of the most iconic, high-value neighborhoods in the entire country are in the Westside:
- Beverly Hills
- Bel Air
- Santa Monica
- Venice
But even among these legendary L.A. neighborhoods, the Pacific Palisades has some of the best locales you can get on the west coast.
As the name suggests, this neighborhood is tucked right up against the golden beaches on the Pacific Coast, giving residents and business owners some of the most beautiful vistas right in their backyard.
Why Are People Moving to Pacific Palisades?
- It’s an attractive location.
- It’s an excellent place to raise a family
- There’s a lot to do
What Makes the Pacific Palisades Such an Attractive Location?
The Pacific Palisades is right on the northern shore of the Los Angeles coast. Their western boundary follows the beach up to the natural expanse of Topanga State Park.
Between the deep blue waves of the Pacific Ocean and the verdant hillsides of the surrounding parks, the Pacific Palisades is a haven hidden away in one of the country’s largest cities.
But its natural surroundings aren’t the only outstanding feature of this neighborhood.
It’s a short trip to Route 1, which helps residents quickly escape to other parts of the city, or even the rest of the state, on this scenic drive.
Its neighbors include Santa Monica and Venice further to the south. Malibu is a short drive to the west on Route 1.
The Pacific Palisades Is a Prime Los Angeles Location
The Pacific Palisades has proximity to the beaches, the hills, and some of the most happening neighborhoods in the city.
This neighborhood epitomizes what people move to Los Angeles for due to its one-of-a-kind location.
As a result, it’s one of the most exclusive and highly sought-after locations in the country and the world.
What Is There To Do in the Pacific Palisades?
Residents and businesses compete for Pacific Palisades real estate because there’s so much to do in the area.
First and foremost, the beaches here are some of the best in Los Angeles. Will Rogers State Beach goes almost down the coast to Santa Monica, with plenty of space for beach-goers to set up their towels and bask in the warm California sun.
To the north, the nature reserves of Topanga State Park and Will Rogers State park offer residents hiking options right in their backyard. The trails weaving through these vast park areas provide some of the most beautiful views of the Pacific Ocean and the city of Los Angeles.
For eating and nightlife options, the Pacific Palisades has some of the best offerings in the city. Sunset Blvd has a variety of dining options for locals to choose from.
The Santa Ynez Recreation Center, the Palisades Recreation Center, and Riviera Country Club provide residents with plenty of activities to enjoy the sunny outdoors.
Residents Have Plenty To Do in the Pacific Palisades
Day and night, the Pacific Palisades give residents loads to do right in their backyard. From natural wonders to nightlife and cultural highlights, there’s always something around the corner in this vibrant neighborhood to stay entertained.
Why Are the Pacific Palisades Good for Families?
For folks locating their forever home, the Pacific Palisades offers fantastic living spaces and family amenities, making it a great place to settle down.
The neighborhood is filled with quaint suburban streets that provide families with a sense of peace with quality communities nearby.
The Pacific Palisades boasts a high density of quality schools a short distance from residential areas. Here are some of the schools in the area:
- Pacific Palisades High School
- Corpus Christi School
- Seven Arrows Elementary School
- Village School
- Second Street School
- Westside Waldorf School
- Marquez Charter School
- Palisades Montessori Center
- Palisades Charter High School
- Pali Pres Preschool
- St. Matthew’s Parish School
- Adderley Schoo
The Pacific Palisades Is Perfect for Raising A Family
Few Los Angeles neighborhoods have access to the number of schools the Pacific Palisades have.
Between the rich educational environment, the wealth of productive activity centers, and the beautiful natural landscape, the Pacific Palisades have everything a family needs to live an enriched, fulfilling life.
Population Demographics in the Pacific Palisades
- Population
- Income
- Employment
A neighborhood means more than its buildings and real estate; understanding the people who call the Pacific Palisades home gives investors a better grasp on what the neighborhood has to offer.
Population Stats
There are 23,607 people living in the Pacific Palisades. That’s on the smaller size for Los Angeles neighborhoods. Considering the size of the community, that’s a relatively low population density compared to other parts of the city. But the population is on the rise.
The median age in the neighborhood is 46, but more and more young people are moving into the area based on the year-over-year change.
Families make up the majority of households, making up 68% of the homes in the Pacific Palisades. Currently, 31% of these households have children, with more on the rise.
The vast majority of residents are married, 63% of them. The next largest demographic based on marital status are folks who aren’t married yet, at 21%.
Income Stats
The Pacific Palisades is one of the most affluent neighborhoods in Los Angeles.
The median household income is $172,670 a year. The average yearly income is even more impressive: $324,744. The average household income has risen by 6% compared to last year.
With such a high-income level in the neighborhood, property prices can be expected to be both stable and high value. The circulation of capital in the community from Pacific Palisades residents ensures that the baseline value of the real estate market tends to remain strong, making it ideal for real estate investments.
Employment Stats
The vast majority of the Pacific Palisades workforce does white-collar work: 97.64%. Of that white-collar workforce, the majority work in the private sector. 58% of Pacific Palisade residents work for private companies.
The subsequent most significant employment demographic in the neighborhood is self-employed entrepreneurs. 29% of residents operate their enterprise. 7% of residents work for the government, and 6% work for Non-Profit organizations.
This neighborhood is home to a high-powered workforce, adding to the capital circulation in the area and the overall stability of the real estate market.
What Are the Real Estate Trends in Pacific Palisades?
- Property Values
- Number of households
- Average Listings & DOM
Property Values
Considering its prime location on the Pacific Coast and the affluent residents who call it home, property values in the Pacific Palisades are some of the highest in Los Angeles.
The median listing price for homes in the neighborhood is currently $4,000,000—that translates to about $1,200 per sqft for Pacific Palisades real estate.
The sales price currently exceeds the listing price; the median price for homes sold is about $4,600,000. People are eager to pay top dollar for real estate in the Pacific Palisades.
Now may be an ideal time for prospective investors to buy into this hyper-prime market. The year-over-year listing price for homes is trending downward; homes are listed 6% lower than last year.
Number of Housing Units
There are currently 10,440 housing units in the Pacific Palisades, with 9,236. Renters comprise 21% of the households, while the majority are homeowners at 79%.
Most housing units in the neighborhood were built in the 1950s, 2,435 units. A slight uptick in the 1970s added 1,703 more units to the real estate market, steadily diminishing each year.
Development in the Pacific Palisades is slow; only 402 new units were built in the last decade.
With shrinking development in the neighborhood, existing units can be safely expected to appreciate as the years go by; with the increased scarcity of these high-value homes, listing prices will only become more competitive.
These properties will likely continue to rise, so it’s better to get in now than later.
Average Listings and Days on Market
There are currently 107 homes for sale in the Pacific Palisades, about the average yearly. The range in prices for these homes is vast; $410,000 on the lower end, with the highest value properties going all the way up to $69,000,000.
The average Pacific Palisades home will last 45 days on the market, dipping down slightly from last year.
More and more people are jumping into the white properties the Pacific Palisades have to offer.
To better understand the trends that shape the real estate market, consult our educational materials to learn more.
What’s the Future of the Pacific Palisades?
Investors can reliably infer that property values will continue to rise in the Pacific Palisades. Its phenomenal location, its rich density of schools, and the rising level of capital in the area indicate that this neighborhood will continue to be one of the most bankable in all of Los Angeles county.
Invest With the Best
With such high property values, breaking into this hyper-prime market can be virtually impossible for individual investors.
That’s where Christina comes in. Work with real estate professionals who know the skill set and the network to effectively navigate this exclusive neighborhood so you can include Pacific Palisades’ real estate assets in your portfolio.
Get started today and protect your portfolio for tomorrow.
Sources:
In the U.S. and around the world, inflation is high and getting higher | Pew Research Center